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Japanese Car Share Plummets in Thailand, China Gains
THAILAND REPORT
Akihiro Komuro The share of Japanese automakers in Thailand’s new car market, once considered a “stronghold for Japanese cars,” is plummeting. This is due to the rapid adoption of electric vehicles due to the government’s preferential policies and the rise of Chinese manufacturers focusing on electric vehicles. Thailand is also the largest automobile manufacturing base in Southeast Asia, and this could affect the entire regional market. According to a tally by Toyota Motor’s Thai subsidiary, the nine Japanese giants will have a combined market share of 77.8% in 2023. They once held a 90% share, but the 2023 mark was 7.6 percentage points lower than the previous year.
In Thailand, companies that import EVs can receive a subsidy of up to 150,000 baht (about $600,000) per vehicle and a tariff reduction of up to 40% if they sign a memorandum of understanding with the government. More than 10 companies, including Chinese EV giant BYD, have signed the MOU because of the lower selling price.
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LGMG and CATAL Sign Strategic Cooperation Agreement
CHINA REPORT
Jack Hao On Jan. 20, 2024, Lingong Heavy Machinery Co., Ltd. and CATAL New Energy Technology Co., Ltd. signed a strategic cooperation agreement to jointly develop electric construction machinery.
Lingong Heavy Machinery is a leader in the global wide body mining truck and high-altitude operation platform industry and is also an active advocate and strong promoter of green, intelligent, international, and low-carbon environmental protection development in the engineering machinery industry.
CATAL is a leading global new energy innovation technology company, committed to providing first-class solutions and services for global new energy applications, and has a wide range of vehicle factory partners around the world.
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India FY25 Budget Is Driving EV Revolution
INDIA REPORT
Aditya Kondejkar The Indian government’s Budget for the fiscal year 2024-25 is emphasizing the automotive industry, with a particular focus on the electric vehicle (EV) ecosystem. The budget reflects a strong commitment to sustainability and green initiatives, aiming to position India as a leader in the global EV market.
This analysis delves into the key highlights and implications of the budget, drawing insights from industry leaders and experts. Here are highlights of Budget.
EV Ecosystem Reinforcement: The government’s pronounced emphasis on bolstering the EV ecosystem through support for the manufacturing and charging infrastructure has been met with widespread acclaim. Finance Minister Nirmala Sitharaman’s commitment to payment security mechanisms for e-buses underlines a strategic approach to encourage public transport electrification.
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Alternative Power Report, February 2024
Download PDFThe February issue of the Alternative Power Report produced by Power Systems Research contains articles on China battery production and Chinese EV market share gains in Thailand. There’s also news about CATL’s wind power project and several articles about EV heavy truck development.
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PowerTALK™, February 2024
Download PDFChina companies dealing in alternative power–batteries and electric vehicles–make the news in the February issue of PowerTALK by Power Systems Research. CATL has gained market share in the global battery market and it has formed a production alliance in China. At the same time, China OEMs are gaining market share in Thailand’s EV market. Mike Aistrup reports that the global powersports recreational products market is forecast to exceed US$ 35 Billion in 2025.
IN THIS ISSUE
ALTERNATIVE POWER REPORT
- CATL Expands Battery Market Share Lead in 2023
- Electric Trucks Can Haul 100 Tons
- Daimler’s Aims for Hydrogen Milestone
- Toyota Maintains EV Market Skepticism
NORTH AMERICA:
- Shell To Exit Light Duty FCEV Market in California
- Global Powersports Market To Exceed $35 Billion in 2025
DATAPOINT: NA ATVs
BRAZIL/SOUTH AMERICA:- VW To Invest US$250 Million in Argentina by 2026
- Cummins To Produce New Off Highway Engine at Guarulhos Plant
- Brazil Posts Record Heavy Duty Trailers Sales in January 2024
JAPAN: Toyota and Chiyoda Develop Hydrogen Production System
SOUTH KOREA: Hyundai Motor Shifts EV Plans, Introduces Genesis Hybrid
THAILAND: Japanese Car Share Plummets in Thailand, China Gains Share
CHINA: LGMG and CATAL Sign Strategic Cooperation Agreement
INDIA: India FY25 Budget Is Driving EV Revolution -
2024 NA ATV Production: 281,000 Units
Download PDF281,000 units is the estimate by Power Systems Research of the number of ATVs expected to be produced in North America in 2024.
ATV is short term for All Terrain Vehicle. This vehicle commonly has four wheels and is designed to be driven off road. It seats one person, or sometimes two, one in front of the other. ATVs are utilized in a variety of activities that include recreation, sport and military related needs.
This product information comes from industry interviews and from two proprietary databases maintained by Power Systems Research: EnginLink™ , which provides information on engines, and OE Link™, a database of equipment manufacturers. PSR
Carol Turner is Senior Analyst, Global Operations at Power Systems Researech
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Q4 2023 Power Systems Research Truck Production Index (PSR-TPI) Climbs 8.4%
Download PDFSt. Paul, Minnesota, USA— The Power Systems Research Truck Production Index (PSR-TPI) increased from 107 to 116, or 8.4% for the 12 months ended Dec. 31, 2023. For the fourth quarter of 2023, ending Dec. 31, 2023, the index increased from 112 to 116, or 3.6%, compared to Q3 2023.
The PSR-TPI is a quarterly truck production report that measures global truck production across six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets. This data comes from OE Link™, the proprietary database maintained by Power Systems Research.
The next update of the Power Systems Research TPI will be in April 2024 and will reflect changes in the TPI during Q1 2024. PSR
Jim Downey is vice president – global data products at Power Systems Research and Chris Fisher is the senior commercial vehicle analyst at Power Systems Research
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South America TPI Expected To Climb 22% in 2024
Download PDFSt. Paul, Minnesota, USA— The Power Systems Research Truck Production Index (PSR-TPI) increased from 107 to 116, or 8.4% for the 12 months ended Dec. 31, 2023. For the fourth quarter of 2023, ending Dec. 31, 2023, the index increased from 112 to 116, or 3.6%, compared to Q3 2023.
South America. Medium and heavy commercial vehicle production is expected to increase by 22.1% this year after a significant decline in 2023 primarily driven by a weaker economy and the implementation of the Proconve 8 emission regulations in Brazil last year.
The PSR-TPI is a quarterly truck production report that measures global truck production in six regions: North America, China, Europe, South America, Japan & Korea and Emerging Markets.
This data comes from OE Link™, the proprietary database maintained by Power Systems Research.
The next update of the Power Systems Research TPI will be in April 2024 and will reflect changes in the TPI during Q1 2024. PSR
Jim Downey is vice president – global data products at Power Systems Research and Chris Fisher is the senior commercial vehicle analyst at Power Systems Research
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PowerTALK™, January 2024
Download PDFBYD, the Chinese auto manufacturer, is making expansion moves in Brazil, Deutz plans to sell electric marine motor manufacturer Torqeedo to Yamaha and GM and Komatsu are developing hydrogen fuel cells for mining trucks. Read these articles and more in the January issue of PowerTALK News.
IN THIS ISSUE
ALTERNATIVE POWER REPORT
- GM, Komatsu Plan Hydrogen Fuel Cells for EV Mining Truc
- · Drivers of Heavy, Dirty Cars Pay Stiff Penalty Tax in Franc
- · Survey: EV Range Anxiety Slips in Importance
- · Cathode Material for Cheaper, More Sustainable EVs Developed
NORTH AMERICA: Consumers, Professionals Boost Lawn & Garden Spending
EUROPE:- · Electric Hydro Foiling Popular in Maritime Industry
- · Deutz AG To Sell Torqeedo Shares To Yamaha
DATAPOINT: NA Dumpers/Tenders
BRAZIL/SOUTH AMERICA:- · BYD Seeks To Acquire Lithium Mining Operation in Brazil
- · BYD Plans Supply Chain Verticalization in Brazil
JAPAN: 2023 Domestic MC Shipments Increase 4%
SOUTH KOREA: Hyundai Motor Sells Chongqing Plant in China
THAILAND: Lithium Deposit World’s Third Largest
CHINA: Recharging Slows Penetration of New Energy HD Trucks
INDIA: Ford’s Potential Return to India -
GM, Komatsu Plan Hydrogen Fuel Cells for EV Mining Truck
ALTERNATIVE POWER REPORT
Guy Youngs General Motors and mining and construction equipment giant Komatsu plan to jointly design and validate the hydrogen fuel cell technology for the 930E electric drive mining truck. GM has been conducting hydrogen fuel cell research and product development for more than 50 years and has developed platforms for both lithium-ion batteries and hydrogen fuel cells.
Mining trucks typically operate at a single mine throughout their life, a situation that simplifies the challenge of rolling out hydrogen refueling stations. GM and Komatsu plan to test the prototype HYDROTEC-powered mining vehicle in the mid-2020s at Komatsu’s Arizona Proving Grounds research and development facility. The prototype mining truck will be powered by more than 2 megawatts of HYDROTEC power cubes.
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